Monash University hosts 2023 International TECHFEST in Australia
Monash University is proud to host this year’s 2023 International TECHFEST on behalf of the Vietnam Ministry of Science and Technology, and the National Agency for Technology, Entrepreneurship and Commercialization Development.
Vietnam’s biggest annual event for innovative start-ups, Techfest 2023, was held for the first time in Australia.
Monash University hosted this year’s 2023 International TECHFEST on behalf of the Vietnam Ministry of Science and Technology, and the National Agency for Technology, Entrepreneurship and Commercialization Development. The event marked 50 years of diplomatic relations between the two countries, contributing to bringing Vietnamese innovation startups to the global market.
The university has a significant footprint in Asia and Southeast Asia, including campuses in Malaysia and Indonesia, and collaborative agreements with Vietnamese universities. TECHFEST is a platform to strengthen relations between Monash and Vietnam and deepen connections with the Vietnamese student and research community.
Interim President and Vice-Chancellor, Professor Susan Elliott AM, said Monash University's dedication to research excellence and its ability to translate this research into commercial success means it is well placed to host the 2023 International TECHFEST.
"Monash is proud to host this year’s International TECHFEST on behalf of the Vietnam Ministry of Science and Technology, and the National Agency for Technology Entrepreneurship and Commercialization Development," Professor Elliott said.
“Our University is committed to supporting innovation and technology entrepreneurship, underpinned by high-quality, globally collaborative research and partnerships that innovate impactful solutions to shared challenges.
“This year’s TECHFEST event was a wonderful opportunity for Monash to deepen our long-standing connection to, and collaborations with, Vietnam and to strengthen ties between our two countries.”
Minister of the Ministry of Science and Technology, Huynh Thanh Dat, and Monash University Interim President and Vice-Chancellor Professor Susan Elliott AM (From left to right)
The event took place as part of the delegation of the Ministry of Science and Technology, led by the Minister Huynh Thanh Dat during their working visit to Australia for The Global Entrepreneurship Congress 2023 held in Victoria.
Treasurer of Victoria, Minister for Industrial Relations and Minister for Trade and Investment, The Hon Tim Pallas MP, also attended the event alongside prominent figures including Chair of Breakthrough Victoria and a former Premier of Victoria, The Hon John Brumby AO, member of the Australian government, Australian start-up companies and venture capitalists. Monash’s researchers, Vietnamese students and alumni also participated in the event.
Speaking at the opening ceremony of Techfest Australia 2023, the Minister Huynh Thanh Dat from the Ministry of Science and Technology of Vietnam affirmed: “On the occasion of the 50th anniversary of diplomatic relations between Vietnam and Australia, we have made the decision to bring the TECHFEST International to Australia - the vibrant heart of entrepreneurship in the Asia-Pacific region, in the aim of supporting Vietnamese entrepreneurs in Australia as well as introducing Vietnamese companies to the Australian partners. TECHFEST is also the platform to establish favorable conditions and avenues for Australian companies to enter the Vietnamese market.”
This was also a special occasion for Vietnamese start-up companies to learn the operation management process, equipment, tools, and most recent technology research in Australia. The event was also the platform for Australian companies and venture capitalists to establish a scholarship or investment fund for technology innovation from Vietnam.
In the presentation on the innovative startup ecosystem, Director General of the National Agency For Technology Entrepreneurship And Commercialization Development (NATEC) Pham Hong Quat claimed: “Vietnam ranks 48th out of 132 countries in the Global Innovation Index (GII), positioning our economy in the top 4 within the Southeast Asian region. Moreover, Vietnam's startup ecosystem is evaluated as the 54th globally and the 10th in the Asia-Pacific region.”
“These achievements serve as testament to Vietnam's youthful/vibrant, dynamic nature and its immense potential in innovation and entrepreneurship.”
In the presentation on policies supporting startup in Vietnam, Mr. Pham Hong Quat acknowledged that Vietnam has been actively pursuing a strong startup sector for over a decade. In doing so it has enacted several policies and initiatives to stimulate growth and entrepreneurship.
“Promoting open innovation and fostering global startup exchanges are two important directions actively pursued by the Ministry of Science and Technology of Vietnam to attract additional resources for the development of Vietnam's innovative startup ecosystem.”